Brokers Must Keep Logging Trades for Another Year
Published Date: 6/2/2026
Notice
Summary
The SEC is asking for comments on keeping a rule that makes broker-dealers record every trade they make on customer accounts they control. About 325 broker-dealers handle around 400,000 trades a year, spending about 5 minutes each to log details like customer name, security info, and time. This helps stop fraud and keeps trading fair, with an estimated total yearly time cost of 33,333 hours across the industry.
Analyzed Economic Effects
1 provisions identified: 0 benefits, 1 costs, 0 mixed.
Broker-Dealer Trade-Record Requirement
If you are a registered broker-dealer, Rule 15c1-7 requires you to make an immediate record of any discretionary trade for a customer that includes the customer name, the security name, amount, price, and the date and time of the transaction. The SEC estimates about 325 broker-dealers will log roughly 400,000 such transactions a year, taking about 5 minutes per transaction for an aggregate 33,333 hours annually and about 103 hours per broker-dealer each year.
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Key Dates
Department and Agencies
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